Addition of Leading U.S. Luxury Watch Retailer Expands Footprint into Key Global Market for Fine Watches and Jewelry

Bucherer, the leading European retailer for fine watches and jewelry, announced today that it has acquired Tourneau, the largest U.S. based luxury watch retailer from an investor group led by Green Equity Investors IV, L.P. an affiliate of Leonard Green & Partners, L.P.

Established in 1900 and based in New York, NY, Tourneau is the largest luxury watch retailer in the U.S. with 28 retail locations across 10 states and a fully integrated e-commerce website.

"With over a century of expertise as the preeminent purveyor of fine watches in the U.S., Tourneau provides an exciting opportunity for the Bucherer Group to establish a footprint and extend our offering of fine watches and jewelry to the United States," said Guido Zumbühl, CEO of the Bucherer Group. "With this acquisition, we will immediately introduce the Bucherer brand to millions of potential customers in one of the most important global watch and jewelry markets. This is also a great opportunity to firmly establish the Carl F. Bucherer brand in the US and introduce Bucherer Fine Jewellery into the North American market."

Zumbühl continued, "As a retail brand, we stand for the rich tradition of the Swiss quest for perfection, warm hospitality and constantly inspiring customers with fascinating brands and products. We will do everything to continue to provide our local and international customers the very best shopping experience both online and in our stores and are delighted that Tourneau's management will join our team to ensure both continuity and to help us drive the future success of Bucherer within the U.S."

Ira Melnitsky, Chief Executive Officer of Tourneau, commented, "Bucherer is a dream partner for Tourneau. A Swiss company with 130 years of history in the industry, Bucherer understands fine watches like few others, making them the ideal partner for Tourneau. As our business continues to perform and grow, this is a natural next step for the Company. With the backing of one the world's leading watch retailers, Tourneau's customers, business partners and employees will benefit from Bucherer's expertise, innovation, unmatched product selection and services. I am extremely proud to be joining the Bucherer 'family' and look forward to an exciting future with our team."

Jörg G. Bucherer, owner and President of Bucherer, said, "I am very delighted to bring my family's brand to the United States. This strengthens the leadership of our company and brings the Bucherer name to one of the most important markets in the world. We want to inspire our American customers with outstanding choice and an impeccable Swiss service culture providing the very best shopping experience."

Both companies are basically high volume outfits not known for in depth, knowledgeable sales people or personalized service. Not sure how this will improve Tourneau's business from the customer side in the US, but that's not the reason for the sale.

...actually KNOW watches. The current administration is sorely lacking and it's well known that in the last 5 years, anyone in management that was worth their weight in watches at Tourneau was axed by the current CEO in favor of "luxury fashion" veterans from such places as Michael Kors, Gucci, etc.

Let's see if the Swiss were handed a smelly bag by the Yanks...

"It is so choice...if you have the means, I highly recommend picking one up."

I always was impressed by the friendly professionalism and the service attitude of their staff, at different affiliates in Switzerland. Of course there are other good watch shops, but the way Bucherer does business towards their clients can be seen as an example to many.

The Bucherer house brand was my family's favorite brand of Swiss watch in the 70s. They discontinued it as a house brand and went upmarket with the Carl. F. Bucherer brand. That was disappointing, as it went right out of the affordable range, and now their branding is pretty gaudy. I rather liked their old simple name and trademark.

Here are my Bucherers:

Dad's chrono, which my granddad brought home for him in 1971. It has a Valjoux 72. I wish it didn't, as it's going to cost a grand to get it fixed... (since the old Daytonas and Navitimers used that same movement)

A simple dressy one, which I got for a song on FeeBay a couple years back, just serviced:

It is quite an interesting question: what should a salesperson know to be successful? I'm quite sure the answer is not to know every technical detail of every watch of every brand they represent, but knowing your way around them comes in very handy of course. I wouldn't be surprised if the most important attributes of a successful salesperson are a sensitive ear and patience. Together with the client he/she (I bought most if not all of my watches while being serviced by a lady) there is the adventurous search for what could be an interesting catch. To me there is no reason to try and force a watch upon a client: most clients will not fall for this, and they quite probably will never return to that shop after such a treatment.

Is a turn towards a client friendly attitude what Bucherer can bring to Tourneau?